These are the top reasons people delay their retirement

An average of 24% of Americans surveyed said they’ve officially entered retirement, with a surprising 8% of Generation Xers have called it a career.

New data from TD Ameritrade shows that the “need to save more” is the most popular reason why people delay retirement, at 74%. It’s also important to note up front that according to the report, “while 50% of respondents would like to retire by 60, just 33% expect to do so.”

The Harris Poll surveyed 2,002 American adults for TD Ameritrade’s research. For clarity, here are the age brackets provided for each generation in the study: Millennials (ages 18 to 34), Generation X (ages 35 to 52), Baby Boomers (ages 53 to 72) and the Greatest Generation (ages 73 and older).

Why Americans say they’ll put off retirement

“Need to save more:” 74%

“To qualify for social security:” 37%

“To qualify for Medicaid:” 23%

“Afraid of getting bored:” 20%

“To take care of their kids:” 16%

“To take care of their parents:” 7%

Overall, while an average of 24% of Americans surveyed said they’ve officially retired, the report also breaks things down by generation. These are the percentages of people who are retired: